Form 8912--Clean Renewable Energy Bond Credit and Gulf Bond Credit

Forms and Documents

Document Name	Status
2019-07-08_SS_1545-2025rEC.doc Supporting Statement A	2019-07-08

IC Document Collections

IC ID	Document Title	Status
19779	Form 8912--Clean Renewable Energy Bond Credit and Gulf Bond Credit Instruction	Modified

ICR Details

OMB Control No: 1545-2025	ICR Reference No: 201905-1545-002
Status: Received in OIRA	Previous ICR Reference No: 201605-1545-004
Agency/Subagency: TREAS/IRS	Agency Tracking No:
Title: Form 8912--Clean Renewable Energy Bond Credit and Gulf Bond Credit
Type of Information Collection: Revision of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 07/30/2019

	Requested	Previously Approved
Expiration Date	36 Months From Approved	01/31/2021
Responses	50	500
Time Burden (Hours)	689	6,890
Cost Burden (Dollars)	0	0

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Abstract: Form 8912, Clean Renewable Energy Bond Credit and Gulf Bond Credit, was developed to carry out the provisions of new Internal Revenue Code sections 54 and 1400N(l). The form provides a means for the taxpayer to compute the clean renewable energy bond credit and the Gulf bond credit.

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Authorizing Statute(s): US Code: 26 USC 54 Name of Law: Credit to holders of clean renewable energy bonds
   PL: Pub.L. 110 - 246 15316 Name of Law: Food, Conservation, and Energy Act of 2008
   US Code: 26 USC 1400N(1) Name of Law: Tax benefits for Gulf Opportunity Zone
   PL: Pub.L. 110 - 343 107,301(a), 313, 702(d) Name of Law: Energy Improvement and Extension Act of 2008 (Division B); Tax Extenders and Alternative Minimum Tax
   PL: Pub.L. 111 - 5 1521, 1531 Name of Law: American Recovery and Reinvestment Act of 2009
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 11872	03/28/2019
30-day Notice:	Federal Register Citation:	Citation Date:
	84 FR 36664	07/29/2019
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 1

IC Title	Form No.	Form Name
Form 8912--Clean Renewable Energy Bond Credit and Gulf Bond Credit	8912	Credit to Holders of Tax Credit Bonds

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	50	500	0	-450	0	0
Annual Time Burden (Hours)	689	6,890	0	-6,201	0	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: Yes

Burden Reduction Due to: Cutting Redundancy

Short Statement: There are no changes to the collection however the estimates are being updated to eliminate double counting associated with the business collection. The information collection requirements and burden associated business for Form 8912 is accounted for in OMB control number 1545-0123, U. S. Business Income Tax Return and has been removed from this information collection 1545-2025.

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Annual Cost to Federal Government: $43,743

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     No

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     No

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 07/30/2019

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